trending Market Intelligence /marketintelligence/en/news-insights/trending/EFUM6UQfGXVidlqBPy2GNA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Shareholder pushing again to separate chairman, CEO roles at KeyCorp

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Shareholder pushing again to separate chairman, CEO roles at KeyCorp

KeyCorp'sboard recommends shareholders reject a proposal by investor Gerald Armstrong toseparate the chairman and CEO roles. The shareholder is again pushing the company to adopt a policy requiring thatthe chairman be an independent director.

Armstrong, who owns 20,080 shares of the company, plans to floathis proposal at the 2016 annual shareholder meeting May 19, according to a definitiveproxy statement filed April 6. The board said it should maintain the flexibilityto determine the most appropriate leadership structure for the company instead ofadopting this shareholder proposal's "one-size-fits-all" approach, andthe board currently believes that it is in the best interests of KeyCorp and itsshareholders to keep the chairman and CEO roles combined.

Beth Mooney serves as chairperson, president and CEO at KeyCorp,according to SNL records.

In May 2015, KeyCorp shareholders shot down the same proposal by Armstrong at their 2015 annualmeeting.